The owner's equity of proprietorships and of partnerships makes no distinction between what is invested and what is earned. The equity of each owner is accounted for under the single heading, Capital.
The owner's equity of proprietorships and of partnerships makes no distinction between what is invested and what is earned. The equity of each owner is accounted for under the single heading, Capital.
Chapter1: Financial Statements And Business Decisions
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Problem 1Q
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Please explain the following statement in detail, I don't quite understand.
The owner's equity of proprietorships and of partnerships makes no distinction between what is invested and what is earned. The equity of each owner is accounted for under the single heading, Capital.
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